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Old 09-11-2016, 02:03 PM   #61
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That's a big maintenance fee though, no!?
No set fee. Just pay someone to do as needed.
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Old 09-11-2016, 02:07 PM   #62
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We've bought 52 week timeshares & rent them out on 12 months leases. Making plenty. Great deal. We do have to do maintenance.
How is this possible aren't there common areas and amenities that need to be maintained?
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Old 09-11-2016, 02:24 PM   #63
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How is this possible aren't there common areas and amenities that need to be maintained?
I'm thinking it's a little joke (he owns the place outright?)
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Old 09-11-2016, 02:46 PM   #64
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I'm thinking it's a little joke (he owns the place outright?)
Correct but most condo developments have ongoing HOA fees for common areas and things like roofs and outside painting. You pay those forever.
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Old 09-11-2016, 04:12 PM   #65
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How is this possible aren't there common areas and amenities that need to be maintained?
Yep, the tenants can all have access to the porch & grass yard.
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Old 09-11-2016, 04:13 PM   #66
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I'm thinking it's a little joke (he owns the place outright?)
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Old 09-11-2016, 04:16 PM   #67
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Correct but most condo developments have ongoing HOA fees for common areas and things like roofs and outside painting. You pay those forever.
Tenants lease, don't own.
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Old 09-11-2016, 04:27 PM   #68
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I guess you just love cryptic posts and funny faces. Were you actually trying to contribute something to the discussion or be funny? That's a rhetorical question.....
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Old 09-11-2016, 04:59 PM   #69
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Been a timeshare owner since 1997 and a Tug member before it was Tug. We've enjoyed our timeshares and the ensuing memories with vacationing with family and friends, which continue in our retirement years and are priceless to us.

We never believed our timeshare purchases were investments much like we also don't believe our purchase and consumption of owner occupied residential real estate, whether vacation homes or a primary home, is an "investment" in the true financial/economic sense. Timeshares are fractional real estate interests and typically purchased at an inflated price at "retail" from the developer since a huge portion of that price covers timeshare marketing and sales cost.

Timeshares have a deservedly poor reputation among the general public and that is a function of how the product is marketed, sold and ultimately used by many misinformed consumers of the product. Nonetheless, if one becomes better informed about the product, one can get exceptional value, financially and recreationally, from timeshares and their portability through exchanges or rentals.

Not gonna debate the wisdom of buying a timeshare but I think the folks who believe the product is categorically horrible miss the mark by a wide margin.
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Old 09-11-2016, 11:18 PM   #70
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I'm thinking it's a little joke (he owns the place outright?)
Good call.

I was totally thrown off as years ago I realized I could get some timeshares really cheap, either free or $200 each for 3 bedroom, 2 bath house units.

Immediately I thought just buy all 52 weeks of one for $10,000 and have a nice place in FL, all taken care of for the yearly fee of only $31,200

I tried to figure you if I got one at the very end of the development, perhaps I de-timeshare it at the shareholders meeting and have it as my private property, but of course there is no way the timeshare board was going to release that yearly maintenance fee of $31,200.
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Old 09-12-2016, 10:50 AM   #71
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Good call.

I was totally thrown off as years ago I realized I could get some timeshares really cheap, either free or $200 each for 3 bedroom, 2 bath house units.

Immediately I thought just buy all 52 weeks of one for $10,000 and have a nice place in FL, all taken care of for the yearly fee of only $31,200

I tried to figure you if I got one at the very end of the development, perhaps I de-timeshare it at the shareholders meeting and have it as my private property, but of course there is no way the timeshare board was going to release that yearly maintenance fee of $31,200.
Yes, it's probably a joke, but as a denizen of the Tug Bulletin Board and someone who is actively looking to accumulate Marriott DC points from the resale or rental market, according to these sources I recall reports of someone who did, in fact, buy 52 weeks at the Newport Coast Marriott Timeshare Resort and there are quite a few people who will "transfer/rent" enormous batches of DC points on the resale market. Some of the folks making their Marriott DC points available for rent on the resale market have over sized holdings in fractional interests/timeshares in the Ritz Carlton Destination Club product. http://www.ritzcarltonclub.com/explo...inations.shtml
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Old 09-12-2016, 11:25 AM   #72
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I am not joking. Somewhere there were discussions about travelling around the world slowly and maintaining a house in the U.S. I was thinking that it may be possible to have a timeshare in a state of the U.S. and claim the residency there and come back once in a year.
Sorry about any thread drift but there are plenty of mail forwarding agencies that can help you establish residency. It's pretty common for full time RV'ers and sailboat liveaboards to use them. Of course you want to find a state that gives you some tax advantages and is close enough since you will likely have to return once a year for vehicle registration and annual medical checkups. A few of the most common states are Florida, Nevada, and one of the Dakotas. Can't remember which one.

I don't this would work for people living in another state and working full time. More for people who travel a lot and don't have a permanent address for gov't purposes.
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Old 09-14-2016, 05:59 AM   #73
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We stayed at a resort in Daytona Beach a few years ago. The pitch, as I recall it, was $15k for a certain time share. Came away from the presentation and looked up the re-sale sites. The equiv. Unit/time was on the market for $3k asking price.

Did a little research. Apparently 35 percent of the cost of a timeshare is attributable to the marketing costs! Also, some timeshares do not allow members to sell their units privately..they must be cold back to the corp.

We decided it was not for us. The only numbers that added up were the re sale purchase numbers. But we also do not want the hassle or the risk of assessments...which happened rencently to a bankrupt timeshare near us in Western Canada.
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Old 09-14-2016, 08:43 AM   #74
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Timeshares are a bad idea... Just run away from the presentations. If your find yourself in a 90 minute presentation, just mention time-share resales and they will throw you out and give you whatever incentive.
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Old 09-14-2016, 09:03 AM   #75
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Google: timeshare forum

The top link is a forum that would be of great value to anyone who wanted to know methods to use timeshares to their advantage. The highlighting points are:
- NEVER buy a timeshare from a resort (retail)
- Research the best points/dollar ratio. That is, you'll want the most days/weeks/points for the least yearly maintenance fees.
- Ignore the resorts games to try and convince you that buying "used" straight from people who want to unload isn't smart.

I can give Hilton as an example:
I visited one of their free weeks and discovered that a studio (two person) week worth of points in their peak month would cost $15,000 and comes with a $750 a year maintenance fee. However, on the "used" market one can purchase a one week two bedroom suite at the same month/location for just $8,000 that has a $850 yearly maintenance fee... the kicker here is that this could be traded down (the points) to become 2 weeks of the quoted one above from Hilton.

So on the used market you're getting two weeks at $425 a year (per week) maintenance fee for an upfront cost of $4,000 a week... as opposed to buying direct from Hilton for $750 a year (per week) maintenance fee for an upfront cost of $15,000. So buying "used" you get twice the timeshare value for $7,000 less up front and $100 less per year in maintenance fees.

Of course, even in this scenario I'd question, what you could do with that $8,000 (+$850 a year) to produce more value in your vacations than being stuck to Hilton's dozen or so timeshare properties as a two week yearly vacation obligation.

Hilton will tell you that you get a "perk" of added points to your HHonors account for buying retail from them, but that's minimal compared to the sunken cost of what the above implies. Highlighting the point again that you should NEVER buy timeshares direct from the resorts. The reason these cost so much is because the people selling them get a 30-40% commission on them. That's right... if I bought that $15,000 timeshare, the guy convincing me to is walking away with about $5,000 that day.
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Old 09-14-2016, 10:09 AM   #76
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....
Not gonna debate the wisdom of buying a timeshare but I think the folks who believe the product is categorically horrible miss the mark by a wide margin.
I agree with you. I know many people that get incredible value out of their timeshares.

It's like debating politics!
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Old 10-09-2016, 04:56 PM   #77
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My parents bought several timeshares during their retirement years (Branson, Wapato Point in WA, Cabo, and Puerto Vallarta). Mother bought another in SF after Dad passed. On the up side, there were several family vacations at Wapato and a couple in Cabo over the years. The Branson and PV timeshares were not used, but they traded points for upgrades in Cabo. Mom spent a lot of time and got pretty good at figuring out trades, points, etc., but she paid extra for RCI and Wyndham programs that allowed her to play with week/points. She traveled until the last 18 months of her life and never did use the SF unit. I was the executor for her "very small estate". The timeshares ended up being the hardest part of settling her estate. I was able to turn back the Wapato unit for a small title transfer fee. After much work the same was true for the Mexico timeshares (both Pueblo Bonito). However, I had to go through probate process in both CA and MO to turn back those units paying attorney and title transfer costs. It was a very stressful time for me as no one in family was interested in taking on any of the timeshare units. Also could not close out probate for estate without unloading the timeshares (unless estate wanted to continue to pay maintenance fees).
I tried donating to charity - none were interested. Looked at possibly selling, but there are already a ton for sale on secondary market. I offered them free to friends - none interested. The estate ended up paying maintenance fees for the 18 months it took to unload the MO and CA units.
Upon reflection, my parents could have traveled quite nicely for the amount they ended up paying for the purchase and maintenance fees. I'm totally turned off of timeshares after having to go through the hell of getting rid of them. Even if you buy the timeshare on the secondary market - how will you get rid of it when you are done?
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Old 10-10-2016, 12:40 AM   #78
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I agree with you. I know many people that get incredible value out of their timeshares.

It's like debating politics!
That's like saying you know people who have returns that handily beat the indexes, year in and year out. Or saying that life in North Korea is great (just as long as you don't mind having your family executed if you somehow are actually able to escape the country) Do examples exist of this? Sure. Are they common? Well, I wouldn't consider 1%-2% as "common". If timeshares were such a marvelous idea for most people, they wouldn't resort to such high-pressure sales tactics and deception, because people would be beating down the doors to buy them up, like Black Friday deals the day after Thanksgiving. Instead, they do not let you out of the contract, even upon your death! Talk about a hard-sale tactic!
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Old 10-10-2016, 08:56 AM   #79
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Even if you buy the timeshare on the secondary market - how will you get rid of it when you are done?
That's one thing I think Disney does right although I'm not fond of Disney: I've read that their timeshares have a limited term, so eventually they belong to Disney again.
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Old 10-10-2016, 10:18 AM   #80
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That's like saying you know people who have returns that handily beat the indexes, year in and year out. Or saying that life in North Korea is great (just as long as you don't mind having your family executed if you somehow are actually able to escape the country) Do examples exist of this? Sure. Are they common? Well, I wouldn't consider 1%-2% as "common". If timeshares were such a marvelous idea for most people, they wouldn't resort to such high-pressure sales tactics and deception, because people would be beating down the doors to buy them up, like Black Friday deals the day after Thanksgiving. Instead, they do not let you out of the contract, even upon your death! Talk about a hard-sale tactic!
I never heard anyone say it was a marvelous idea, it's like buying a vacation home at the Jersey shore or boat purchase, it's more of, "do your research before buying one".

Now I do have one (disney) and I will admit that I never thought about how my sons will get rid of it after I die. LOL, truthfully and I know everyone here will faint, I really don't give a rats patooie. Let's see, kids got bachelor degree with no loan, one kid is going to law school, no loans, not to mention driving around in cars they didn't pay for, annual vacays a few to Europe

along with most likely inheriting a tidy sum of cash at my demise.

LOL, yeah, they are really going to have a horrible time with my estate.

Now we purchased Disney, just got back from a great time at the food and wine festival and maybe DVC is different but they sell out rather briskly and I've never had anyone hard sell me. We go annually, maybe twice a year and my sons 22 and 25 still go, so I thinking when I kick the bucket they won't want to sell it.

I'm not pro or con timeshares, I say pretty much the same thing when people tell me they want to buy a boat or a condo at the Jersey shore do your homework, know yourself and how you travel and don't let the glossy papers do you in.
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